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Frequently Asked Questions about Refinancing?

As you might imagine, we get a lot of calls from homeowners thinking about refinancing. They usually have questions and concerns about timing and ease but once they understand the benefits of refinancing and understand that interest rates are the lowest in more than 50 years.

First Direct Lending will walk homeowners through our easy streamlined process and answer all their questions.

  • “Why should I refinance my home?”
  • “When does it make sense to refinance my home?”
  • “How do I start the process to refinance my home?”

We promise – the mortgage process can be easy and we pride ourselves in helping our borrowers refinance their home in usually 30 days or less! As you will see, First Direct Lending utilize cutting-edge technologies to get the job done faster with the least amount of effort from our customers.

Then the only question is . . . When Can I Get Started on my Refinance Loan at First Direct Lending?.

Why Should I refinance now? The Benefits of Refinancing

  • Reduce or consolidate debt. If you have balances on your credit cards or store accounts or other high-interest debt, refinancing can provide the funds to reduce or eliminate it, which can save you hundreds ($400 on average) per month in interest payments.
  • Improve your credit scores. If your credit is compromised now, refinancing to a lower payment may help you improve your FICO score after you make 6 on-time payments (this could also qualify you for a lower rate, free of fee loan.
  • Take advantage of your equity. Take cash out for big ticket items like home improvements, to pay for college, a second car, or a trip!

When should I refinance my home? When does it make sense?

There are costs associated with most refinance loans (though there are also loans free of fees nowadays!). But most of the time, if you can lower your interest rate by a percentage or two, the benefits can quickly outweigh the cost so it may make sense to refinance now.

How do I start the process to refinance my home?

That’s an easy one ... easy as 1-2-3. But first you have to call or complete our “Let’s Get Started!” form to get the ball rolling! Learn more about how First Direct Lending streamlines the refinance process for our borrowers! (redirect to refi process page).

Looking for a better rate?

Not sure if you’ll qualify for a refi?

We’ll let you know in 5 minutes

First Direct Lending Refinance Performance

 Key milestones below illustrate the average time periods our borrowers experience with First Direct Lending.

Refinance with bad credit_How does refinancing work?

Preliminary Loan Review
2 hours - same day

2 days
Refinance with bad credit_How does refinancing work?

Appraisal Order
2 days

10 days
Refinance with bad credit_How does refinancing work?

Final Appraisal Report to You
10 days

14 days
Refinance with bad credit_How does refinancing work?

14 days

Call Us Today: 1-855-510-EASY